Mercantile Bank Corporation Announces Ongoing Succession Appointments

Internal promotions are additions to management transition scheduled for January 1, 2017

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Sep 29, 2016, 06:00 ET

GRAND RAPIDS, Mich., Sept. 29, 2016 /PRNewswire/ -- Mercantile Bank Corporation ("Mercantile") announced today a series of promotions that continue the management transition process initiated with the July 2016 announcement of senior leadership transition to become effective on January 1, 2017. The promotions, which are all internal to Mercantile Bank of Michigan, are also effective January 1, 2017.

"These management changes are a continuation of our long term succession planning process," said Robert B. Kaminski, Jr., Executive Vice President and Chief Operating Officer of Mercantile. "These individuals have demonstrated great ability and a long commitment to Mercantile and its success. We are pleased to make these announcements both for the individuals involved and as a demonstration of Mercantile's stability, management continuity and succession planning and development."

Ray Reitsma will be named President of Mercantile Bank of Michigan. He is currently West Region President and Senior Lender. Reitsma has been with Mercantile Bank of Michigan for 13 years.

Doug Ouellette will add the responsibilities of Chief Community Banking Officer to his current title of Central Region President. He has been with Mercantile Bank of Michigan and Firstbank Corporation 16 years and recently concluded responsibilities as Chairman of the Community Bankers of Michigan.

Mark Augustyn, a 19-year veteran and a founding employee of Mercantile Bank of Michigan, will follow Reitsma as West Region President and Senior Lender. He is currently Regional Commercial Loan Manager.

Doug Holtrop, who has been with Mercantile Bank of Michigan more than 14 years, and Justin Karl, a 12-year Mercantile Bank of Michigan veteran, will be named Commercial Loan Managers. Both are currently Senior Vice Presidents in the Commercial Loan Department.

Jeff Kaiser, a 15-year Mercantile Bank of Michigan employee, will be named Risk Management Department Head. He is currently Loan Administrative Risk Manager. Kaiser will assume this role from Robert Worthington, who was named Chief Operating Officer of Mercantile Bank of Michigan in January 2016.

About Mercantile Bank Corporation

Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank of Michigan. Mercantile provides banking services to businesses, individuals and governmental units, and differentiates itself on the basis of service quality and the expertise of its banking staff. Mercantile has assets of approximately $3.0 billion and operates 48 banking offices serving communities in central and western Michigan. Mercantile Bank Corporation's common stock is listed on the NASDAQ Global Select Market under the symbol "MBWM."

Forward-Looking Statements

This news release contains comments or information that constitute forward-looking statements (within the meaning of the Private Securities Litigation Reform Act of 1995) that are based on current expectations that involve a number of risks and uncertainties. Actual results may differ materially from the results expressed in forward-looking statements. Factors that might cause such a difference include changes in interest rates and interest rate relationships; demand for products and services; the degree of competition by traditional and nontraditional competitors; changes in banking regulation or actions by bank regulators; changes in tax laws; changes in prices, levies, and assessments; the impact of technological advances; governmental and regulatory policy changes; the outcomes of contingencies; trends in customer behavior as well as their ability to repay loans; changes in local real estate values; changes in the national and local economies; and other factors, including risk factors, disclosed from time to time in filings made by Mercantile with the Securities and Exchange Commission. Mercantile undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Mercantile Bank Corporation